Chinese investor to build 80 mln euro zinc oxide factory in Serbia

BELGRADE (Serbia), September 17 (SeeNews) - A Chinese company plans to invest 80 million euro ($93.2 million) in the construction of a zinc oxide factory in Zrenjanin, in northern Serbia, a Serbian government official said on Monday.

The company plans to open 280 jobs at the factory, finance minister Sinisa Mali said in a video file posted on the website of Serbian news agency Tanjug. He did not reveal the name of the company.

The Serbian government said in a statement on Friday it has adopted a draft cooperation agreement with Chinese company Shijiazhuang Zhiyi Zinc Industry, without revealing further details.

A Chinese company which holds 20% of the global zinc market has picked a location for the construction of a factory with 500 employees in Zrenjanin, Serbian president Aleksandar Vucic said last month without giving the name of the company.

Serbia's government will hold talks on an inbound investment worth $1.5 billion during the World Economic Forum (WEF) meeting in the Chinese city of Tianjin, which will take place from September 18 to September 20, Mali said last week.